MarketNews
Happy Tuesday, traders! Stay updated with the latest market news: ECB inflation uncertainty, Japan's economic forecast, RBA rate hike possibilities, New Zealand business confidence, Tesla's delivery report, oil price trends, Airbus deliveries, and Nvidia's antitrust charges. Visit FourTrades for full analysis.
fourtrades
1. NEWS
#MarketNews
☀️ Happy Tuesday, dear traders! Let’s discuss the most exciting news for the beginning of the week:
The ECB, led by Christine Lagarde, needs more time to assess inflation uncertainties. June's 2.5% inflation data were insufficient for decisions on interest rates.
Japan's economy is forecasted to shrink in 2024, with GDP revised to -2.9% in Q1, leading BNP Paribas to predict a -0.4% contraction and SMBC Nikko Securities a -0.3% contraction.
???????? The RBA minutes show an August rate hike is possible, with the key rate at 4.35% and inflation at 4% in May, despite household financial stress.
???????? Weak New Zealand business confidence, with 44% of firms pessimistic and a 28% decline in trading, adds pressure on the central bank to cut the 5.5% interest rate sooner.
Tesla is expected to report a 5.8% drop in quarterly deliveries to 439,302 vehicles. The company is facing a prolonged sales slump due to an older lineup and widespread staff cuts. Tesla (#TESLA) shares are up 6.05%.
Oil trades near a two-month high, with Brent crude at $86.80 per barrel, driven by rising summer demand and potential disruptions from Hurricane Beryl.
Airbus deliveries rose 2% in the first half of the year to approximately 323 planes despite supply chain issues. Airbus (#AIR) stock is up 2.64%.
Nvidia is set to face antitrust charges from the French regulator for alleged anti-competitive practices, which could lead to fines of up to 10% of its global annual turnover. Nvidia (#NVIDIA) stock is up 0.62%.
That's it for today, guys! Click on ????if you liked our review, and see you soon!
